Logo of The Company for Cooperative Insurance Co. (Tawuniya)
The Company for Cooperative Insurance Co. (Tawuniya) shareholders will vote on increasing capital by 20% to SAR 1.5 billion through 1-for-5 bonus share distribution, during the extraordinary general meeting (EGM) scheduled for Aug. 28.
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Capital Increase Details |
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Current Capital |
SAR 1.25 bln |
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Number of Shares |
125 mln |
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Percentage of Increase |
20% |
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Method of Increase |
One share for every five shares held |
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New Capital |
SAR 1.5 bln |
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Number of Shares |
150 mln |
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Reason |
Strengthening the company's capital base will contribute to business growth and expansion over the coming years. |
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Reserves to be used in issuance of capitalization |
Capitalizing SAR 250 million from retained earnings |
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Eligibility |
Aug. 28, 2023 (Shareholders registered with Edaa by the end of the second trading day following the EGM date.) |
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